This week our main focus on fundamental news trading will be as follows:
Tuesday March 28, 2015
GBP Preliminary GDP q/q :
This data is released on a quarterly base and will be monitored closely by investors after BOE minutes came out hawkish last week. The current trend in the GBP/USD is bullish on the 4hours time-frame and a positive outcome will fuel this bullish case and push price higher. However a negative outcome might dampen the bullish trend and bring about a reversal back to the major over-all bearish trend on the daily charts.
Wednesday March 29, 2015
Advance GDP q/q:
This data is released also on a quarterly base and will drive the markets wild if we get an average deviation from forecast figures by economist. Recently the U.S has been publishing negative data which is making investors have a re-think on the timing of the widely speculated Interest rate hike.
FOMC Federal Funds rate/ Rate Statement:
FOMC Rate Statement is definitely the highlight of this week’s Forex News Trading events. Why? Because we are really keen to hear what the FED are going to say. Are they going to change their statement? Are they going to moderate what they say? And most importantly, are they going to hike their rate?
In my opinion, there is 0% chance they will be doing that. However, Federal Funds Rate will be announced too and if they do decide to adjust it we would see absolute fireworks in the market. Simply because no one expects that. So, it’s something to keep one eye on as well but the big thing of course is the FOMC Statement itself.
NZD Official Cash Rate/ RBNZ Rate Statement:
Last week the Reserve Bank of New Zealand assistance governor John McDermott said that the central bank is not considering a rate hike at present. On the other hand, RBNZ is looking at signs of weakness in demand and inflation that might warrant a rate cut. This week investors would be so eager to hear what they RBNZ itself has to say, a dovish statement will send the single currency lower against basket of other currencies and a hawkish statement will drive the single currency higher.
Thursday April 30, 2015
CAD GDP m/m:
This fundamentals is released monthly and will only drive the markets if we get a reasonable deviation of 0.3%. However we might see volatility of decent movement even with a 0.1% or 0.2% due to the fact that crude oil is now recovering from its loss over the months and all eyes are turning on the Canadian dollar.